{"id":560344,"date":"2021-02-24T04:10:46","date_gmt":"2021-02-24T04:10:46","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/24\/vodafone-to-acquire-20-in-fintech-players-bee-and-masary\/"},"modified":"2021-02-24T04:10:46","modified_gmt":"2021-02-24T04:10:46","slug":"vodafone-to-acquire-20-in-fintech-players-bee-and-masary","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/24\/vodafone-to-acquire-20-in-fintech-players-bee-and-masary\/","title":{"rendered":"Vodafone to acquire 20% in fintech players Bee and Masary"},"content":{"rendered":"

<\/a> Vodafone Egypt is set to acquire a 20% stake in each of <\/strong>Bee<\/a><\/strong> and <\/strong>Masary<\/a><\/strong> \u2014 both subsidiaries of non-banking financial services provider Ebtikar \u2014 under the terms of an MoU between Ebtikar and Vodafone, Hapi Journal<\/a> reports. Vodafone will acquire the stakes through a capital increase. The acquisition comes as part of the mobile network operator to ramp up its investments in Egypt and expand its non-banking financial services products. The companies will now begin the due diligence process, which is expected to take around three months, Al Mal<\/a> reports, citing sources close to the sale.<\/p>\n

Vodafone\u2019s share purchase opens the door for Bee and Masary\u2019s expansion in Africa<\/strong>, B Investments\u2019 IR head Omar El Labban tells Al Mal<\/a>. Ebtikar is a joint venture between B investments, BPE Partners and MM Group for Industry and International Trade.<\/p>\n

Advisors:<\/strong> Zaki Hashem & Partners is advising Ebtikar, Al Mal<\/a> reports, while Alliance Law Firm is providing counsel to Vodafone on the transaction, according to an emailed statement.<\/p>\n

Background: <\/strong>Ebtikar had said last year<\/a> that it had received \u201cseveral\u201d offers from unnamed local and foreign investors for stakes in Bee and Masary. Ebtikar holds a 72% stake in Masary, with the remainder held by Bahrain\u2019s Sadad. The company also acquired a 60% stake in Bee<\/a> in October 2017, with the remaining 40% held by two other investors.<\/p>\n

Separately, Ebtikar is also reportedly looking to up its stake in Bee to 80%<\/strong> by acquiring the stake held by software services company Techno Beez, Al Mal<\/a> reports, citing unnamed sources. Techno Beez will then purchase an undisclosed stake in Ebtikar in exchange for exiting Bee. Ebtikar is set to disclose the details of these agreements to the EGX this morning, according to the sources.<\/p>\n","protected":false},"excerpt":{"rendered":"

Vodafone Egypt is set to acquire a 20% stake in each of Bee and Masary \u2014 both subsidiaries of non-banking financial services provider Ebtikar \u2014 under the terms of an MoU between Ebtikar and Vodafone, Hapi Journal reports. Vodafone will acquire the stakes through a capital increase. The acquisition comes as part of the mobile […]<\/p>\n","protected":false},"author":1,"featured_media":560345,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[140,139,138,72,7128,1759,595,142],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-b-investments","tag-bee-smart-payment-solutions","tag-ebtikar","tag-enterpriseam","tag-ma-watch","tag-masary","tag-non-banking-financial-services","tag-vodafone-egypt","wpautop","entry"],"acf":{"mongo_id":"42db6645-da56-49c4-a284-ed39e05306b4","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/347.jpg","photo_position":"above","related_issue":[560339],"teaser":"","voice_url":""},"yoast_head":"\nVodafone to acquire 20% in fintech players Bee and Masary - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/24\/vodafone-to-acquire-20-in-fintech-players-bee-and-masary\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vodafone to acquire 20% in fintech players Bee and Masary\" \/>\n<meta property=\"og:description\" content=\"Vodafone Egypt is set to acquire a 20% stake in each of Bee and Masary \u2014 both subsidiaries of non-banking financial services provider Ebtikar \u2014 under the terms of an MoU between Ebtikar and Vodafone, Hapi Journal reports. 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The telecoms giant\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/362.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546009,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/20\/vodafone-egypt-acquires-10-stake-in-bee-and-masary-setting-the-record-straight-on-an-arco-ashry-steel-tieup\/","url_meta":{"origin":560344,"position":1},"title":"Vodafone Egypt acquires 10% stake in Bee and Masary + setting the record straight on an Arco-Ashry Steel tieup","author":"enterpriseam admin","date":"20 April 2022","format":false,"excerpt":"Vodafone Egypt makes first stake buys in Bee + Masary: Vodafone Egypt has acquired 10% stakes in e-payment platforms Bee and Masary, subsidiaries of non-banking financial services (NBFS) provider Ebtikar, according to a disclosure (pdf) filed to the EGX yesterday by Ebtikar parent company B Investments. The telecoms giant \u2014\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/338.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560972,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/21\/ebtikar-now-holds-80-of-bee-rx-healthcare-has-a-egp-1-bn-ma-pipeline\/","url_meta":{"origin":560344,"position":2},"title":"Ebtikar now holds 80% of Bee + Rx Healthcare has a EGP 1 bn M&A pipeline","author":"enterpriseam admin","date":"21 March 2021","format":false,"excerpt":"Ebtikar now holds 80% of Bee after acquiring an additional 20% stake in the company held by software services company Techno Beez. The EGP 40 mn transaction officially closed yesterday, Al Mal reports, citing unnamed sources. Ebtikar, which already held a 60% stake in Bee before the transaction, is now\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":542551,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/03\/ebtikar-ups-stake-in-bee-to-99-9-through-share-swap\/","url_meta":{"origin":560344,"position":3},"title":"Ebtikar ups stake in Bee to 99.9% through share swap","author":"enterpriseam admin","date":"3 January 2022","format":false,"excerpt":"Ebtikar ups stake in subsidiary Bee to 99.9% through share swap: Non-bank financial services player Ebtikar Financial Investments Holding has upped its stake in e-payments platform Bee to 99.9% from 60% via a share swap, its parent companies MM Group and B Investments said in EGX filings (here, pdf and\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/27.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":564749,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/24\/vodafones-bee-and-masary-acquisitions-confirmed-elsewedy-electrics-sees-net-profits-fall-25-in-2020\/","url_meta":{"origin":560344,"position":4},"title":"Vodafone\u2019s Bee and Masary acquisitions confirmed, ElSewedy Electrics sees net profits fall 25% in 2020","author":"enterpriseam admin","date":"24 February 2021","format":false,"excerpt":"The EGX30 rose 0.2% at today\u2019s close on turnover of EGP 1.59 bn (8.7% above the 90-day average). Local investors were net buyers. The index is up 5.44% YTD.In the green: MM Group (+11.6%), Orascom Development Holding (+2.6%) and Cleopatra Hospital (+2.0%).In the red: Fawry (-3.9%), Sodic (-2.4%) and Orascom\u2026","rel":"","context":"In "GO WITH THE FLOW"","block_context":{"text":"GO WITH THE FLOW","link":"https:\/\/enterpriseam.com\/egypt\/category\/go-with-the-flow\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":566305,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/10\/ebtikar-sets-ipo-deadline-by-4q2021\/","url_meta":{"origin":560344,"position":5},"title":"Ebtikar sets IPO deadline by 4Q2021","author":"enterpriseam admin","date":"10 June 2021","format":false,"excerpt":"Ebtikar has narrowed the deadline for its planned EGX debut to 4Q2021, after having eyeda larger window within 2H2021 to pull the trigger on its IPO, Omar El Labban, the IR director of majority shareholder B Investments, told Enterprise. The non-banking financial services player recently finished spinning off most activities\u2026","rel":"","context":"In "SPEED ROUND: IPO WATCH"","block_context":{"text":"SPEED ROUND: IPO WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=560344"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/560344\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/560339"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/560345"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=560344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=560344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=560344"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=560344"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=560344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}